In the contemporary world, web applications have revolutionized user experiences at all levels. These have become an ubiquitous part of our everyday lives where users can avail multiple website related features such as product search, filtering, shopping carts, social media feeds, instant messaging, even simple emailing and much more.
Due to this huge demand based opportunity, businesses that maneuver to web app development services seemingly thrive and prosper over the years. According to a Statista report, the web application development market is likely to reach a value of $234.7 billion by 2028 at a CAGR of 7.04%.
Benefits of Web App Development Services
Let us take a look how web application development service has supported sundry industries:
1. Healthcare and Wellness:
The major benefit that web application designing services have brought into the Healthcare industry would include electronic health records that connect various stakeholders for verification of patient data and accelerated decision making for the best patient care. Researchers forecast that such services in this industry are projected to grow at a CAGR of 17.9% from the current market share of USD 167.7 billion [GrandViewResearch].
Another major impact by each and every custom web application development company associated with this sector is made via Cloud or web based Telemedicine platforms which provide remote consultation, quick appointment scheduling, prescription management as well as remote surgeries in some cases as a boon to all rural patients. Moreover, these have also helped researchers to gain access to critical patient information for drug discovery, disease related studies and much more.
Advanced versatility of web apps has imbibed so profoundly in this industry that almost every web application development company provides technical framework to at least one financial enterprise or FinTech solution provider since both are basic requisites (digital wallets, lending platforms) in the current era. So much so that the financial web app development market is likely to attain a share of $282.71 billion by 2031, growing at a CAGR of 9.2% [Allied Market Research]
Online banking apps powered by Blockchain security, enhance user experience and operational efficiency by managing their finances, providing real time balances, payment bills, fund transfer details etc. At the same time, online Investment web apps provide easy access to financial markets across the globe and maintenance of user’s trade stocks and portfolio management.
Web applications form the basis of e-commerce that has caused a paradigm shift in the retail industry. This market is progressing at a CAGR of 21% and the total market share of retail web apps is projected to reach USD 119.19 billion by 2029, with retail custom software development services in the USA attaining a market share of about USD 10.44 billion by the same forecast period [Globe Newswire].
Online shopping allows personalized recommendations using Recurrent Neural Network AI model based predictions from user’s purchase history and preferences. Online transactions via payment gateways are well secured bolstering customer trust in retail IT solutions. These have also proved to be useful in self check out complexes and operate in a 24/7 serviceable manner for global audiences.
The Automotive industry has embraced numerous benefits with the integration of web applications in combination with embedded technology, such as streamlined operations, better user experiences and improvised efficiency. Web applications made for automotives are likely to secure a market share of USD 40.1 billion by 2027 advancing at a CAGR of 13.1 % [MarketsandMarkets]. On magnifying usage of custom development of automotive solutions, with respect to vehicle customization, users can get a 3D model based view (color, detailed view of engine, additional features like graffiti).
Auto retailers can assure such enhancements through e-commerce apps where users can browse vehicle inventories and purchase. These allow hassle-free troubleshooting, repair diagnostics, repairing, servicing and maintenance booking as well as real time updates on vehicle status. The emerging concept of connected cars via web apps allows users to remotely control (lock, unlock, starting engine) and monitor vehicles (fuel check, maintenance alerts).
Educational web apps market is expected to grow at a CAGR of 8.9% from USD 123.4 billion in 2022. Benefits pertaining to education technology solutions would include Learning Management Systems with performance analysis Dashboards, distance learning, collaborative e-learning, online educational resources, virtual classes etc., thus, transcending socioeconomic divisions and geographical barriers.
6. Logistics and Transportation:
The world is connected today with web apps significantly overhauling logistics and this market is expected to register a revenue of $77.62 billion by 2030 with a CAGR of 17.54% [Strategic Market Research]. Supply chain management web apps simplify inventory and warehouse management, e-tracking for fleet management powered by IoT sensors, route planning, fuel utilization, AI based scheduled vehicle maintenance as well as transparent order processing in case of delivery web apps or on-demand logistics web applications.
7. Real Estate:
The Real estate web application market is expected to increase at a CAGR of 12.4% from $10.24 billion in 2022 [GrandViewResearch]. The major factor in this uprising is due to revival of suspended real estate activities during COVID-19 times and the aid provided by such applications in digitally maintaining and updating records, title deeds and much more. Various AR/VR based visualization techniques help customers in purchasing amongst choices, while such customer data can be used for AI based customer centric prediction models that work around customer behavior.
How KritiKal Solutions Can Benefit You?
KritiKal Solutions is one such company that can assist you in discovering and achieving unparalleled success. We have worked in the past with major consumer goods multinational companies for custom tailored web application development while assuring safety measures against cyber attacks, data leaks and other issues.
We also possess expertise in developing online marketplaces, e-commerce apps etc. for retail companies, performance dashboards, LMS etc. for EdTech companies, financial web apps and much more for companies operating in various other industries.
Sarath CM holds the position of Associate Architect at KritiKal Solutions. He has extensive experience of working with Software Systems and related technologies such as ReactJS, NodeJS and much more. With his problem-solving mindset and fluency in conveying complex concepts to all stakeholders, he has helped KritiKal with many successful project deliveries.